Executive Summary: In the summer and fall of 2022, electronic transactions were undergoing a sea change, but riding different tides: in the summer, the Uniform Law Commission approved a set of amendments to the Uniform...more
Over the last few years, stakeholders in the digital asset space have questioned how digital assets should be treated for purposes of the Uniform Commercial Code (UCC), a comprehensive body of laws relating to commercial...more
Just as cryptocurrency markets are attempting to thaw out from a “crypto winter,” a joint committee of the Uniform Law Commission (ULC) and the American Law Institute (ALI) has finalized a significant and wide-ranging...more
Emerging technologies, such as bitcoin, blockchain and non-fungible tokens (“NFTs”), have led to the creation of massive alternative investment vehicles, additional portfolio diversification as well as expansion of the...more
One benefit of blockchain includes its ability to harness the power of smart contracts. What is a Smart Contract? Although the term “smart contract” sounds like a legal instrument, a smart contract is actually a...more
CFTC Plans Public Meeting Addressing Fintech, Including Blockchain Technology - On March 27, 2019, the Commodity Futures Trading Commission (CFTC) Technology Advisory Committee will host a public meeting at the CFTC...more
Last July, the Uniform Law Commission completed a uniform model state law, known as the Uniform Regulation of Virtual-Currency Businesses Act (“URVCBA” or the “Act”) (Steve Weise participated in the preparation of the Act)....more
On October 9, 2017, the Uniform Law Commission released a proposed state statute, which, if adopted, will require a new type of state licensure for persons engaging in “virtual business activities.” The proposed regulation...more